Xponance Inc. Decreases Stake in Caterpillar Inc. (NYSE:CAT)

Xponance Inc. trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,862 shares of the industrial products company’s stock after selling 30,958 shares during the period. Xponance Inc.’s holdings in Caterpillar were worth $23,271,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in shares of Caterpillar during the 4th quarter valued at about $27,000. Thompson Investment Management Inc. acquired a new position in shares of Caterpillar during the first quarter worth $27,000. Bbjs Financial Advisors LLC purchased a new position in shares of Caterpillar in the second quarter valued at $28,000. Financial Connections Group Inc. acquired a new stake in shares of Caterpillar during the second quarter valued at about $28,000. Finally, Fairman Group LLC purchased a new stake in shares of Caterpillar during the first quarter worth about $29,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Stock Down 1.2 %

Shares of Caterpillar stock opened at $368.82 on Monday. Caterpillar Inc. has a 1-year low of $223.76 and a 1-year high of $382.01. The company has a market capitalization of $180.37 billion, a P/E ratio of 16.65, a PEG ratio of 1.56 and a beta of 1.10. The business’s fifty day moving average price is $343.68 and its two-hundred day moving average price is $344.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.28 and a quick ratio of 0.78.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.91 billion. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. Caterpillar’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.55 EPS. As a group, research analysts forecast that Caterpillar Inc. will post 21.88 EPS for the current year.

Caterpillar announced that its board has initiated a share buyback plan on Wednesday, June 12th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 12.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $350.00, for a total value of $527,800.00. Following the completion of the sale, the insider now owns 18,515 shares in the company, valued at $6,480,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the transaction, the insider now owns 18,515 shares in the company, valued at $6,480,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald Johnson acquired 100 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $338.59 per share, with a total value of $33,859.00. Following the transaction, the director now directly owns 2,842 shares in the company, valued at approximately $962,272.78. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CAT has been the subject of a number of recent analyst reports. StockNews.com upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Truist Financial restated a “buy” rating and issued a $399.00 price target (up previously from $390.00) on shares of Caterpillar in a research note on Wednesday, August 7th. UBS Group raised their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Bank of America decreased their price target on Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $336.31.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.